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Taiwanese sapphire maker shares fall on GTAT bankruptcy

Taiwanese sapphire maker shares fall on GTAT bankruptcy




Apple Inc. sapphire partner GT Advanced Technologies filed for Chapter 11 bankruptcy protection on Monday and dragged down Taiwanese sapphire maker share prices on Tuesday as the move was interpreted as a weak future demand for sapphire from Apple and also reflected on the problem of over-relying on one partnership with this Cupertino-based company. Local sapphire makers Crystalwise Technology Inc. (4944) and ACME Electronics (8121) share price dropped 2.35% and 3.8% on Tuesday, respectively.


Updated : 2021-05-07 17:59 GMT+08:00